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Evaluate your uniqueness and how you stand out from the competition. This is not to know the result of your marketing meeting, but the advantage you have over the competition as seen by your customers.
There is a severe struggle for leads, customers, and returns from PPC adverts and it keeps getting more difficult to distinguish yourself.
The terms related to your brand and core keywords which you bid for are your top competitors target. This usually results in a bidding struggle which leads to higher CPC prices.
One method of gaining an edge for winning the PPC war is to make a concise competitor analysis or properly called PPC competitor audit from a PPC Expert.
Investigate your industry by going through the competitor analysis. This allows you to determine how your business is performing against the competition, and will also aid in answering these set of questions.
How we are performing?
Is there an opportunity to get better?
Who is the top player in the industry?
To access factors that you can consider and work on, you have to see how you fare against the competition.
You need to detect any chance or dangers that need to be handled. Make an in-depth analysis of your top competitors impression share, ads, landing pages, keywords, and others so that you can gain knowledge of the market and how you can up your game.
To aid this, the following are steps to take in scrutinizing the competition to gain an edge.
#1: Personal evaluation to mark out the market and competitors
The first stage is to state distinctly your services, the solutions you provide and your purpose in the market. Reflect on the following question;
What services do we render?
What do we have for sale?
Note that your opinion about your sales items may not be shared by your customers. For instance, security companies may appear to offer security services, but what they do is keep people safe.
Take time to note down what your customers think you are selling. Also, write down your uniqueness including what makes you distinct from the competition.
Do you have the best rates, excellent customer support or do you give special offers in your company? Is there something you offer that the competitors lack?
This first stage highlights an evaluation process where you note the services your business offers and your companys uniqueness.
Another question, have you explicitly marked your target audience and potential customers?
Examine the following:
Your customers.
Their location.
Their gender and age range.
If your business deals with B2B companies, you will have to solve queries like:
The magnitude of companies you are focusing on.
What companies match or can work with us?
Who are the potential customers?
The essential area of this stage is to ensure that you mark out your target market as concisely as conceivable.
You should also consider your best and gainful customer so you can access your true targets audience and place efforts of reaching out to those ideal customers.
A major error people make thinking they have to focus on target companies that fit in a particular description and wanting to take companies from different niches.
The fault with this thought is that instead of directing your marketing determinations on proper customers who will take up 80% to 90% of your customer list, you will end up wasting resources outside which may not even yield returns. This frustrates your marketing efforts and reduces results.
Summary
PPC competitor analysis is very important to get the insights of the competitors. This analysis will help you to select the keywords and to understand the competitors strategy. Ultimately this will help you to stand out from your competitors.
